• Gold: 1,244.43 -1.44
  • Silver: 14.74 0.01
  • Euro: 1.137 -0.000
  • USDX: 97.044 -0.355
  • Oil: 51.32 0.17

December 4: Gold and Silver Gain Roughly 1% While Stocks Drop Over 3%

Chris Mullen
|
Tuesday, December 4th

Please Note: Most US markets will be closed tomorrow for a national day of mourning.

 

“Meanwhile, futures giant CME Group CME will shut down trading of interest-rate and futures and options products for the day, though electronic trading and trading in energy and metals futures will have a regular session, including those for oil and gold. “We are deeply saddened by the passing of President George H.W. Bush,” wrote CME Group Chairman and Chief Executive Officer Terry Duffy, in a Sunday news release.”

 

 

Close

Gain/Loss

Gold

$1238.20

+$7.40

Silver

$14.52

+$0.15

XAU

66.16

+0.49%

HUI

149.37

+0.68%

GDM

546.19

+1.01%

JSE Gold

1129.93

+25.03

USD

97.00

-0.01

Euro

113.40

-0.08

Yen

88.74

+0.67

Oil

$53.25

+$0.30

10-Year

2.912%

-0.072

T-Bond

142.96875

+0.1875

Dow

25027.07

-3.10%

Nasdaq

7158.43

-3.80%

S&P

2700.06

-3.24%

 
http://www.goldseek.com/news/2018/2018-12-04_14-03-05.jpg

 

The Metals:

 

Gold gained $11 to $1241.80 by a little after 9AM EST before it chopped back lower at times, but it still ended with a gain of 0.6%. Silver rose to as high as $14.663 and ended with a gain of 1.04%.

 

Euro gold climbed above €1092, platinum lost $4 to $800, and copper dropped 3 cents to about $2.75.

 

Gold and silver equities rose roughly 1% at the open and remained near that level for the rest of the day.

 

The Economy:

 

Trump: if no China trade deal possible, "I am a Tariff Man"  Reuters

Fed's Williams expects further U.S. rate increases into next year  Reuters

McConnell says lawmakers will avoid government shutdown  MarketWatch

Key yield curve hits flattest in 11 years; 3-year and 5-year note invert for first time since 2007  MarketWatch

As Trump touts trade war truce, China holds its tongue  Reuters

 

Tomorrow brings the fed’s Beige Book.

 

The Markets:

 

Oil ended with a modest gain on continuing conversations about output cuts.

 

The U.S. dollar index traded mostly lower on fears of slowing economic growth that sent treasuries higher and the Dow, Nasdaq, and S&P over 3% lower.

 

Among the big names making news in the market today were Toll Brothers, GM, Thomson Reuters, and Apple.

 

GATA Posts:

 

 

Jay Taylor: GATA has proved gold market manipulation, and here's more proof

Turk, Lassonde startled by fall in metals' open interest, hinting at trend change

Here's how Europe plans to challenge the U.S. dollar's dominance

 

The Statistics:

As of close of business: 12/3/2018

Gold Warehouse Stocks:

8,020,709.144

-

Silver Warehouse Stocks:

293,865,591.418

-1,149,038.569

 

Global Gold ETF Holdings

[WGC Sponsored ETF’s]

 

 

Product name

Total Tonnes

Total Ounces

Total Value

New York Stock Exchange Arca (NYSE Arca) AND Singapore Exchange (SGX) AND Tokyo Stock Exchange (TSE) AND Hong Kong Stock Exchange (HKEx) AND Mexico Stock Exchange (BMV)

SPDR® Gold Shares

758.214

24,377,329

US$30,224m

London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)

Gold Bullion Securities

138.13

4,441,056

US$5,504m

London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam

ETFS Physical Gold

152.66

4,908,200

US$6,082m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$444m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 3.529 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 271.75: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,005.56: No change from yesterday’s data.

 

The Miners:

 

WINNERS

1.  DRDGOLD

DRD +6.00% $2.12

2.  Harmony

HMY +5.96% $1.60

3.  Gold Fields

GFI +3.69% $3.09

 

LOSERS

1.  Freeport

FCX -4.88% $11.50

2.  Silvercorp

SVM -4.43% $1.94

3.  Hecla

HL -3.66% $2.37

Winners & Losers tracks NYSE listed gold and silver mining stocks that trade over $1.

 

- Chris Mullen, Gold Seeker Report

 

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Additional Resources for today’s Gold Seeker Report can be found:

© Gold Seeker 2018

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